Absolute Auctions Versus Minimum Bid Real Estate Auctions
Not too many people know about the ins-and-outs of real estate auctions. For instance, did you know there are essentially three different types of real estate auctions? There’s an absolute auction, also known as an auction without reserve, as well as a minimum bid auction and/or a reserve auction (also known as an auction subject to confirmation). These three types of real estate auctions are all a little bit different from each other, and soon you’ll discover how they differ…
A Bidders’ Guide to Liquidation Auctions
To liquidate is to wind up the affairs of a company by ascertaining liabilities and apportioning assets. At least that’s the dictionary definition. But what does that mean for auctions?
What Does Good Auction Etiquette Entail?
TurnKey Auction & Realty of Bryan, Ohio, conducts several auctions each month, both in-person and online. All sorts of things can be auctioned, and all sorts of buyers seem interested in what’s for sale, whether it’s residential or commercial property, farm equipment, machinery or whatever else is listed.
Etiquette is the customary code of polite behavior in society or among members of a particular profession or group. What is proper auction etiquette?
Should You Sell Your Property at an Auction?
If you think about it, the COVID pandemic has had a major impact on the housing market. People stayed home, they made money but didn’t spend it… and now they have money to spend, and they want to move… There aren’t enough houses on the market to satisfy demand in many places, so prices are higher than before, and it’s not unusual for a home to sell for tens of thousands dollars more than what the sellers ask for– and that’s just with negotiated deals.
So, should you sell your property at an auction? Yes. And now is a great time to do it. There are a lot of buyers looking for properties, and there aren’t too many sellers, so that’s driving prices up, up, up.
Auction Bidding Has Game Like Elements
Bidding at auctions has some game-like elements. After all, you can win or lose the auction. Ideally, you want to play to win, and use strategy to get what you want.
Have you ever played a board game with family members, and someone was losing? Those games can get really competitive quickly. And, games can get people’s emotions quite charged up– as can auctions.
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